Reuters US Business

By David Randall, Saqib Iqbal Ahmed and Lewis Krauskopf NEW YORK (Reuters) – Investors wondering whether markets can continue their torrid rally are eyeing one important factor that could boost assets: a nearly $6 trillion pile of cash on the sidelines. Soaring yields have pulled cash into money markets and other short-term instruments, as many …

Analysis-A $6 trillion cash hoard could fuel more U.S. stock gains as Fed pivots Read More »

NEW YORK (Reuters) -Freepoint Commodities LLC has agreed to pay over $98 million to settle U.S. charges in connection with a scheme to misappropriate material non-public information and bribe Brazilian officials, authorities said on Thursday. The Connecticut-based commodities trader has agreed to pay a criminal penalty of $68 million and forfeit another $30 million to …

Freepoint settles US charges over multi-year bribery scheme Read More »

(Reuters) -Costco Wholesale surpassed market expectations for quarterly sales on Thursday, as more customers turning to its stores for cheaper groceries and essentials offset slowing demand for discretionary items. The membership-only retail chain’s shares, which have risen 38% this year, were up 1.7% in extended trading. Costco has increased its sales and market share thanks …

Costco tops quarterly sales estimates on steady grocery demand Read More »

By Dawn Chmielewski and Svea Herbst-Bayliss (Reuters) -Walt Disney is bracing for a bitter proxy battle as activist investor Nelson Peltz nominated himself and an ally to Disney’s board, his second attempt this year to gain sway over the company’s strategy. The looming battle comes at a pivotal time for Disney, as the company is …

Disney prepares for bitter battle as activist Peltz seeks two board seats Read More »

By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales unexpectedly rose in November as the holiday shopping season got off to a brisk start amid deep discounting, likely keeping the economy on a moderate growth path this quarter and further alleviating fears of a recession. The rebound in retail sales reported by the Commerce Department …

US economy still resilient as retail sales beat expectations, layoffs stay low Read More »

By Caroline Valetkevitch and Noel Randewich NEW YORK (Reuters) – The S&P 500 closed higher on Thursday on optimism that borrowing rates will decrease next year following a dovish pivot by the Federal Reserve. Trading was mixed for much of the session, with Apple giving up gains after hitting an intraday record high. Tesla shares …

S&P 500 ends higher as investors bet on lower rates Read More »

By Stephen Nellis (Reuters) -Intel on Thursday said that dozens of personal computer makers are using its newest chip, as the company and its customers try to entice consumers to upgrade their machines for a new era of chatbots. At a press event in New York, Intel said the new offering will be available in …

Intel says dozens of PC makers are using its new AI-enabled chip Read More »

By Kenneth Li and Max A. Cherney (Reuters) – Intel Chief Executive Pat Gelsinger on Thursday said the company has no plans to spin out its contract chip manufacturing business. Gelsinger has moved Intel’s manufacturing unit into what is now called Intel Foundry Services (IFS) that operates as a business within Intel. IFS will break …

Intel chief ready to go it alone on chip manufacturing Read More »

By Chris Prentice and Jody Godoy (Reuters) -A federal judge on Thursday tentatively ruled that Elon Musk must testify again for the U.S. Securities and Exchange Commission’s probe of his $44 billion Twitter takeover, handing the SEC a victory in its latest skirmish with the world’s richest person. During a hearing in San Francisco, U.S. …

US judge tentatively rules Musk must testify again in SEC’s Twitter probe Read More »

By Sheila Dang and Pete Schroeder (Reuters) – Elon Musk’s social media platform X, formerly known as Twitter, took a step closer to offering payment features after receiving a money-transmitter license from a 13th U.S. state this week. The approval by Pennsylvania, which occurred on Monday according to a public licensing database, has not been …

Musk’s X receives Pennsylvania money license in push toward payment features Read More »